10/11/2005 - City Council Finance CommitteeFINANCE COMMITTEE MINUTES
OCTOBER 11, 2005
A Finance Committee meeting was held on Tuesday, October 11, 2005 at 4:30 P.M.. Present
were: Mayor Pat Geagan; Councilmember Peggy Carlson; City Administrator Tom Hedges;
Director of Administrative Services Gene VanOverbeke; Parks & Recreation Director Juli
Johnson; Community Development Director Jon Hohenstein; City Attorney Bob Bauer; and
Redevelopment Consultant Sid himan of Ehlers and Associates.
CONSIDERATION OF ACQUISITION OF MULCAHEY COMPANY PROPERTY
IN CEDAR GROVE
Staff reviewed the situation involving the Mulcahey property, portions of which lie on either side
of Highway 13 in the Cedar Grove Redevelopment District. The City anticipates that the
southern portion of the site will likely be acquired at some point in the future for assembly with
other properties for redevelopment purposes. The northern portion is a developable lot, but the
two portions have yet to be subdivided. Mulcahey has asked the City to consider acquiring the
entire parcel, but the Finance Committee indicated that staff should only consider acquisition of
the southern parcel and the amounts proposed should be substantially below the $9.00/ft. asking
price.
CEDAR GROVE CORE DEVELOPMENT AGREEMENT DIRECTION
Staff overviewed the status of negotiations with Schafer Richardson regarding the Core Area
Redevelopmet Agreement. In consideration of the history and facts to this point, the Committee
gave direction on a number of issues related to a developer fee and commissions. The
Committee also reviewed Schafer Richardson's preliminary proposal to incorporate an expanded
public space into the east mixed use area of the Concept Plan and directed that language be
incorporated into the agreement that would address both the cost of development and long-term
costs of maintenance for the public spaces so that the extraordinary aspects of the mixed use
development would not fall back on the Parks Department's maintenance budget. The
Committee indicated the specifics of the public place and parks and recreation needs to be
addressed through the development review process.
ADJOURNMENT
The meeting adjourned at 5:30 p.m.